Insurance stocks fall after IRDAI proposes distribution reforms
What happened
- IRDAI proposed new rules to change how insurance products are sold and commissions are paid.
- The regulator proposed a ban on 'dark patterns' on insurance websites.
- The proposals include lower limits on management expenses for insurance companies.
Key terms explained
Financial terms from this story, in everyday words.
- Dark patterns
- Deceptive website designs that trick users into doing things they did not intend to do.
- Expense of Management
- The total costs an insurance company incurs to run its business, including commissions and operations.
Original source
The Economic Times
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